Spectral Med Stock Market Value
| EDT Stock | CAD 0.53 0.03 6.00% |
| Symbol | Spectral |
Spectral Med Price To Book Ratio
Spectral Med 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Spectral Med's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Spectral Med.
| 10/31/2023 |
| 11/24/2024 |
If you would invest 0.00 in Spectral Med on October 31, 2023 and sell it all today you would earn a total of 0.00 from holding Spectral Med or generate 0.0% return on investment in Spectral Med over 390 days. Spectral Med is related to or competes with Helix BioPharma, Aptose Biosciences, Microbix Biosystems, and Medicenna Therapeutics. Spectral Medical Inc. focuses on the development and commercialization of treatment for septic shock in North America More
Spectral Med Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Spectral Med's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Spectral Med upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 14.88 | |||
| Value At Risk | (6.45) | |||
| Potential Upside | 5.08 |
Spectral Med Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Spectral Med's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Spectral Med's standard deviation. In reality, there are many statistical measures that can use Spectral Med historical prices to predict the future Spectral Med's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.23) | |||
| Total Risk Alpha | (0.86) | |||
| Treynor Ratio | 0.5062 |
Spectral Med Backtested Returns
Spectral Med owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0977, which indicates the firm had a -0.0977% return per unit of risk over the last 3 months. Spectral Med exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Spectral Med's Risk Adjusted Performance of (0.06), variance of 12.57, and Coefficient Of Variation of (1,213) to confirm the risk estimate we provide. The entity has a beta of -0.6, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Spectral Med are expected to decrease at a much lower rate. During the bear market, Spectral Med is likely to outperform the market. At this point, Spectral Med has a negative expected return of -0.35%. Please make sure to validate Spectral Med's total risk alpha and the relationship between the potential upside and market facilitation index , to decide if Spectral Med performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.77 |
Good predictability
Spectral Med has good predictability. Overlapping area represents the amount of predictability between Spectral Med time series from 31st of October 2023 to 13th of May 2024 and 13th of May 2024 to 24th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Spectral Med price movement. The serial correlation of 0.77 indicates that around 77.0% of current Spectral Med price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.77 | |
| Spearman Rank Test | 0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Spectral Med lagged returns against current returns
Autocorrelation, which is Spectral Med stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Spectral Med's stock expected returns. We can calculate the autocorrelation of Spectral Med returns to help us make a trade decision. For example, suppose you find that Spectral Med has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Spectral Med regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Spectral Med stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Spectral Med stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Spectral Med stock over time.
Current vs Lagged Prices |
| Timeline |
Spectral Med Lagged Returns
When evaluating Spectral Med's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Spectral Med stock have on its future price. Spectral Med autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Spectral Med autocorrelation shows the relationship between Spectral Med stock current value and its past values and can show if there is a momentum factor associated with investing in Spectral Med.
Regressed Prices |
| Timeline |
Pair Trading with Spectral Med
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Spectral Med position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Spectral Med will appreciate offsetting losses from the drop in the long position's value.Moving against Spectral Stock
| 0.85 | WMT | Walmart Inc CDR | PairCorr |
| 0.77 | META | Meta Platforms CDR | PairCorr |
| 0.75 | TSLA | Tesla Inc CDR | PairCorr |
| 0.73 | AMZN | Amazon CDR | PairCorr |
| 0.71 | NVDA | NVIDIA CDR | PairCorr |
The ability to find closely correlated positions to Spectral Med could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Spectral Med when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Spectral Med - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Spectral Med to buy it.
The correlation of Spectral Med is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Spectral Med moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Spectral Med moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Spectral Med can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in Spectral Stock
Spectral Med financial ratios help investors to determine whether Spectral Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Spectral with respect to the benefits of owning Spectral Med security.